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Kuala Lumpur: The retail price of RON97 petrol will be higher by 37 sen per litre to RM4.70 per litre, while the price of RON95 petrol and diesel remain unchanged for the week from May 26 to June 1.

The Finance Ministry, in a statement Wednesday, said the price of RON95 petrol and diesel remained at RM2.05 per litre and RM2.15 per litre, respectively, even though the real market price of the two products had risen above the ceiling price.

According to the Ministry, the new price is based on the weekly retail price of petroleum products in accordance with the Automatic Pricing Mechanism (APM) formula.

“The Government will continue to monitor the trends of global crude oil prices and take appropriate measures to ensure the continued welfare and well-being of the people,” it said.